Time-dependent spin phenomena in condensed matter are most often either described in the weakly correlated limit of metallic Stoner-Slater-likemagnetism via band theory or in the strongly correlated limit of Heisenberg-like interacting spins in an insulator. However, many experimental studies, e.g., of (de)magnetization processes, focus on itinerant local-moment materials, such as transition metals and various of their compounds. We here present a general theoretical framework that is capable of addressing correlated spin dynamics, also in the presence of a vanishing charge gap. A real-space implementation of the time-dependent rotational-invariant slave boson methodology allows us to treat nonequilibrium spins numerically fast and efficiently beyond linear response as well as beyond the band-theoretical or Heisenberg limit.